Ann: Notice of Annual General Meeting/Proxy Form, page-2

Current shares on issue 866mln plus options (will probably expire worthless in the end).

Listing rule 7.1 allows to issue 15% extra without shareholder approval.

Listing rule 7.1A allows to issue another 10% extra with shareholder approval.

According to the proposed resolutions the company is seeking approvals for extra 129mln shares outside of Rule 7.1 plus 10% under rule 7.1A.

In a nutshell, prepare for

- 129mln new shares under special placement
- subsequent 150mln new shares under Rule 7.1
- further 114mln new shares under Rule 7.1A

A total 393mln new shares with possible options attached. About 50% dilution.

Hello 2c per share!

All the soy boys please come out now and tell me that I was wrong a week ago calling an inevitable cap raise.

Position changed to Not Held, as I don't think my 10c options will be in the money before expiry.